Security at retail store has become a major concern today. Anand Swaminathan, CEO, Zicom Electronic Security Systems Ltd shares his experience on some high-utility, pocket-friendly, easy-to-use security systems. He talks about the demand for security devices, investment required for installation of security device and innovations made in terms of specific needs for security devices.
Rajni Pandey (RP): Tell us about Zicom electronic security service.
Anand Swaminathan (AS): Since its inception in 1995, Zicom has been a pioneer in the electronic security market, driving it with innovations through its wide array of products and services. The company entered into retail domain with ‘Zicom Consumer Service Group’ in order to provide complete security solutions to homes, offices, small and medium enterprises etc. Renowned as a change-leader, Zicom has created a niche for itself, bringing to the market superior products and services that best address security needs of its customers.
RP: What is the current market size of the organised security market in India? What is the growth rate?
AS: Excluding Fire Detection and Fire Suppression, the size of the domestic market is approximately Rs. 1,500 crore. Although the growth varies by product category and market verticals, at a consolidated level I would pitch the year over year growth between 40 and 50 percent.
RP: What would be the investment in setting up security equipments in a retail store (depending on the store size)?
AS: It could be as low as Rs 25,000 for a standard camera and DVR solution for a small store. On the higher end it can run into a few crores to have holistic security solution fitted into a large format retail store.
RP: Tell us about your product offerings?
AS: The vast portfolio of Zicom includes product categories ranging from CCTV Surveillance Systems, Fire Alarm Systems, Access Control Systems, Burglar Alarm Systems, Video Door phones, Multi Apartment Video Door Phone and Fingerprint Locks.
RP: Today, there are many companies that offer various security products. So what marketing strategy you adopt to counterpart the competition from other companies in this industry?
AS: Like in any other business sector, the sector of security and safety equipments also has pure-play product players in the market. Zicom is not a pure-play product company. Zicom’s offerings are unique in the sense that we cover all market verticals – homes and bungalows, small and medium businesses, corporates, national chains, banks, residential building developers, etc. In addition, we have CMS. Zicom has also pioneered the concept of “security-as-a-service” model where we have customers who pay us monthly service charges rather than buy the full product.
RP: What is the USP of your brand? How does the brand seek to capture the interest and loyalty of the consumers?
AS: Brand Zicom is synonymous with physical security. Our USP is our ability to slice and dice the market by customizing our offerings to the market verticals with the right product mix, service and value added services such as Insurance, CMS, Onsite support etc.
RP: What are the new innovations and advancements made in this field?
AS: With technologies such as GPRS, 3G, IP getting imbibed in our day-to-day lives and the demand for “everything-as-a-service” becoming more relevant in the market today. We at Zicom believe that innovation is not restricted to just technologies alone. It lies in our ability to pioneer and collaborate towards an integrated technologies, services and solution offerings that keeps us ahead of the pack. And at homes, lifestyle value plays a very important role as opposed to the business segment, where it’s more about functionality and returns on investments.
RP: What are the latest technologies launched in this segment?
AS: GPRS based VDP Systems, IP Surveillance Camera’s, Mega pixel cameras, Hybrid and Remote DVR’s, Affordable Home Automation solutions are some of the latest technologies that customers can look forward to in the future.
RP: How do you see security market growing over the period of next five years?
AS: The security product market has huge potentials. I expect the market to grow at 40-50 percent for next couple of years before it stabilizes at 20-25 percent.